An evolutionary and revolutionary way for a homeowner to list their home without having to sue for price fixing
AN EVOLUTIONARY AND REVOLUTIONARY WAY FOR A HOMEOWNER TO LIST THEIR HOME WITHOUT HAVING TO SUE FOR PRICE FIXING OF THE COMMISSION
Hello investors,
My idea is a totally new way of selling real estate, hence evolutionary. In order to stop the price fixing that is going on for commissions my idea is revolutionary. The rest of the name is real estate company. Therefore ERREC is the new companies title or just ERIC for short. To start the seller of their real estate logs on to our website through Facebook marketplace. From there,they start out with their selling price.
The first step is to determine that selling price by pressing the button called Zestimate. After checking all the details of the estimate they go on to select the commission they would pay. For example, the selling price was $2 million. The commission at 6%, which is the normal commission in most regions of the country, would be $120,000. To many sellers this might seem too much for the effort involved. So therefore, they might choose a lower figure, for example, $90,000. To go on further they might check the longevity of the real estate agent. I am proposing level one is 5+ years of experience. Level two is 3 to 5 years of experience. And level three is 1 to 3 years of experience. Many people don’t know that when you call a real estate agency to list your home that you might get an agent that is just started out. If you have a home worth $2 million. You certainly don’t want an inexperienced agent to represent you.
After this information is finished, the listing is transferred to the agent side that is also obtained through Facebook marketplace. The agent goes on that website and sees that a listing is available for $2 million with the commission at $90,000. If that’s not enough, he may just ignore it., but with almost a half million real estate agents in this country, someone is bound to take it. If he decides to go ahead, he must enter his NAR ID. This eliminates any potentially unauthorized person from using this side of the website. From there if all the parameters are acceptable , he notifies his broker and if the broker agrees he goes ahead and accepts the listing as is without changing it at this point, he is asked to pay $500 if he accepts this listing. At that time, he is given all of the contact information, i.e. name, address, phone number, state county, etc. If these websites are successful, I would expect between 5 to 10 hits per day at $500 per hit. This would generate $2500-$5000 per day, or $912,500 per year to $1,825,000.If the investor has a 25% share of my company, they would stand to possibly reap a lot of money. Tom Martin [email protected]301-471-7608
